Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0023%/8h= +2.6% APRpaid last 24h +0.007%

Price spread now: Bybit against QFEX+0.011%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.039%−$4 on $10k

Price spread, last 7 days−0.016%−$2 · spread now +0.011%, 7d avg +0.011%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	93.560	−0.0023	get 0.0003% / 1h	16m 29s	$2.3M	$2.4M	10x
Short	Bybit CLUSDT	93.570	0	get 0.0000% / 8h	1h 16m	$26.8M	$79.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee QFEXbpFee BybitbpOrdersPrice spread, now +0.011%Rate

Funding earned: $4.92
Price spread: +0.011% → +0.011%: $0
Slippage, 4 orders: −$4.13
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$20.21
Costs to cover: 0.251%
Break-even: 35.7 days

Slippage from QFEX: live order book, 6 min ago; Bybit: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy QFEX live order book, 6 min ago	1.07 bp	6.9 bp −$7	7.1 bp −$71	8.7 bp −$867	doesn't fit
Sell Bybit live order book, 2 min ago	0.53 bp	6.2 bp −$6	7.4 bp −$74	15.9 bp −$1,593	94.0 bp −$47.0K

CL on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	−0.0391%	1h	93.590	+0.032%	$196K	$385K	15x	as long as short
Aster CLUSD1	−0.0284%	4h	93.596	+0.038%	$24.6M	$65.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0278%	4h	93.509	−0.054%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0153%	4h	93.565	+0.006%	$246.9M	$917.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0139%	1h	93.592	+0.034%	$2K	$26K	5x	as long as short
Variational Omni CL	−0.0139%	4h	93.559	−0.001%	$13.5M	$10.6M	—	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.606	+0.049%	$282K	$962K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0130%	1h	93.520	−0.043%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0118%	8h	93.470	−0.096%	$22.6M	$50.0M	100x	as long as short
Bitget CLUSDT	−0.0114%	4h	93.545	−0.016%	$42.3M	$42.1M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0079%	1h	93.561	+0.001%	$184.9M	$205.1M	20x	as long as short
Nado WTI-PERP	−0.0057%	1h	93.608	+0.051%	$965K	$619K	10x	as long as short
OKX CL-USDT-SWAP	−0.0037%	4h	93.540	−0.021%	$42.9M	$101.9M	50x	as long as short
QFEX CL-USDlong	−0.0023%	1h	93.560	long leg	$2.3M	$2.4M	10x
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.064%	$404K	$916K	15x	as long as short
edgeX CLUSDC	0.0000%	4h	93.551	−0.010%	$526K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.562	+0.003%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.570	+0.011%	$26.8M	$79.0M	150x
RISEx CL/USDC	0.0000%	1h	93.599	+0.042%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.620	+0.064%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.568	+0.009%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.141	−0.448%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.578	+0.019%	$11.3M	$9.7M	20x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.554	−0.007%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.600	+0.043%	$2.0M	$15.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.620	+0.064%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.570	+0.011%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.556	−0.004%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.602	+0.045%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.579	+0.021%	$333K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.583	+0.025%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.660	+0.107%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.571	+0.012%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0207%	4h	93.570	+0.011%	$4.0M	$970K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.82	+9.896%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0248% / S −0.0182%	1h	93.595	+0.037%	$84K	—	111x	as long as short